Oil prices drop as US spending cuts kick in






NEW YORK: World oil prices fell on Friday, with New York crude striking a two-month low point, as traders eyed huge US spending cuts due to take effect and weaker Chinese manufacturing data.

New York's main contract, West Texas Intermediate crude for delivery in April, sank as low as $90.04 a barrel -- the lowest level since late December, before recovering to close at $90.68, down $1.37 on Thursday's finish.

Brent North Sea crude for April fell 98 cents to settle at $110.40 a barrel in London trade.

Analysts blamed the steadily gaining dollar -- the euro dropped to below the $1.30 level momentarily Friday -- and the expected slowing of the US economy due to the steep sequester spending reductions set to kick in.

If not modified, the sequester -- $85 billion in spending cuts over the next seven months, and $110 billion from the fiscal 2014 budget -- could trim at least 0.5 percentage points from potential economic growth, economists say.

Also weighing on the market were more dismal data from Europe: the Markit Eurozone Manufacturing Purchasing Managers Index was 47.9 points in February, still in the contraction zone, and unemployment in the 17-nation bloc rose to a record 11.9 percent in January, with nearly 19 million people out of work.

Martin van Vliet at ING Bank said the data had marked a "sharp acceleration from December" and meant that "an end to the labor market downturn is not yet in sight.

"Even if the eurozone economy exits from recession in due course, the labor market is likely to remain in recession for most if not all of this year," van Vliet said.

Earlier in the day, China's manufacturing PMI fell in February to 50.1 points, barely in expansion territory and still a reason for concern over the pace of growth.

-AFP/ac



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New Apple-Samsung: List of products left in, left out of damages award



Judge Lucy Koh



Judge Lucy Koh today ordered a new trial to set damages in the Apple-Samsung case, striking some $450.5 million off the original $1 billion-plus judgment against Samsung. Here's what's going to get left in for the next round and what's now going to get left out.

The following products will be subject to a new trial.

  • Galaxy Prevail

  • Gem

  • Indulge

  • Infuse 4G

  • Galaxy SII AT&T

  • Captivate

  • Continuum

  • Droid Charge

  • Epic 4G

  • Exhibit 4G

  • Galaxy Tab

  • Nexus S 4G

  • Replenish

  • Transform


The original damages award, totaling some $598.9 million, still applies to the following 14 products:

  • Galaxy Ace

  • Galaxy S (i9000)

  • Galaxy S II i9100

  • Galaxy Tab 10.1 Wi-Fi

  • Galaxy Tab 10.1 4G LTE

  • Intercept

  • Fascinate

  • Galaxy S 4G

  • Galaxy S II Showcase

  • Mesmerize

  • Vibrant

  • Galaxy S II Skyrockeet

  • Galaxy S II Epic 4G Touch

  • Galaxy S II T-Mobile

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In sequestration's 11th hour, finger-pointing reigns in Congress

With less than 12 hours before sequestration becomes an official federal mandate, the prospects of lawmakers reaching a deal to avert sweeping, across-the-board spending cuts are virtually nonexistent. But as the so-called "sequestration" takes on a feel of increasing inevitability in Washington, politicians on both sides of the aisle are scrambling to assign blame for what many believe could lead to dire economic consequences.

In a series of press briefings and floor speeches today, lawmakers took to the microphone to blast their political counterparts for proposed theft, moral bankruptcy, and professional incompetence.

"How much more money do we want to steal from the American people to fund more government?" asked House Speaker John Boehner, R-Ohio, in a press briefing this morning. "I'm for no more."

Boehner, towing the Republican line, assigned blame to the president for having allegedly "insisted" on the sequestration, and to Democrats for derailing Republican alternatives to avert it.

"It is the president's sequester," Boehner said. "The House has acted twice over the last 10 months to replace these cuts with smarter cuts. We've done our job... I'm happy to talk to the president, I'm happy to work with the president, but the House has done its job."

While the idea for sequestration did originate in the White House, both Republicans and Democrats supported the idea, with 174 House Republicans - including Boehner - voting in its favor. The House did pass two bills to avert the cuts, as Boehner said, but neither of them would have had any support from Democrats in the Senate, and White House would likely have vetoed them. Moreover, both are currently invalid because they were passed in the last congressional session.

House Minority Leader Nancy Pelosi, D-Calif., meanwhile, blasted Republicans for allegedly doing worse than just "kick the can down the road" on the issue.

"They're nudging the potato across the table with their noses," she accused. "We come to Washington to be legislators, representatives of our district and to be legislators. And somehow that piece is missing from what the Republicans are doing - they're just making noise... Either they don't want to legislate or they don't know how to legislate."

Senate Majority Leader Harry Reid, D-Nev., who earlier today was rebuffed in an offer to bring to the Senate floor both Republican and Democratic bills on averting sequester if the votes were held at majority thresholds, went after Republican motives for rejecting his idea.

"Are Republicans really filibustering a vote on replacing the sequester?" he asked on the Senate floor. Later, in a press briefing, he added: "The Republicans want the sequester to go forward!"

Reid will hold a vote for the Democratic proposal this afternoon, but that bill is not expected to garner the 60 votes needed to overcome a filibuster, and is expected to go nowhere.

Senate Minority Leader Mitch McConnell, R-Ky., argued that Reid and fellow Democrats want their bill to fail - "so they can go around the country blaming Republicans for a sequester the president himself proposed.

"They're so concerned about preventing anything from actually passing the Congress that they've limited the ability of senators on both sides to debate this issue openly and to offer different ideas," he contended.

In reality, both sides are refusing to compromise. President Obama is expected to sign a directive making sequestration official tomorrow, at which point he will meet with congressional leaders from both parties to discuss the way forward. The Office of Management and Budget (OMB) will also release a report detailing the specifics of sequestration tomorrow.

If a deal can be worked out before April, when some of the impacts of sequestration will begin to feel real, much of the potential damage will be averted. But there's a lot of ground to make up in the next 30 days: As of now, the two parties don't have a lot to say in agreement on the subject. Just this afternoon, the White House endorsed the Democratic Senate plan while threatening to veto a GOP proposal.

In the meantime, the blame game continues.

"House Republicans deserve to be called to task for leaving the American people in the lurch," said Sen. Dick Durbin, D-Ill., to reporters today.

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Obama Admin to File Brief on Gay Marriage











Solicitor General Donald B. Verrilli, plans to file a brief today with the Supreme Court regarding Prop 8, according to an administration source.


It would mark the first time that the Obama administration has come out in court with an opinion on the California ballot initiative that defines marriage as between one man and one woman.


As far back as 2008, the president said that he thought Prop 8 was "divisive and discriminatory," but his Justice Department has never opined on its constitutionality. Because the DOJ is not a party to the case, it is not required to file a "friend of the court" brief, but the deadlines for briefs supporting the challengers to Prop 8 is tonight at midnight.






Justin Sullivan/Getty Images







Theodore Olson, one of the lead lawyers challenging Prop 8, told reporters last week that he hoped the DOJ lawyers would take the opportunity to set down a legal position.


"However," Olson added, "whether they do or not, the president of the United States made it very clear in his inaugural address that we cannot rest in America until all civilians have equal rights under the law so, in a sense, the president has made that statement already."


Today, 39 states have laws restricting marriage to opposite-sex couples. This number includes voter-approved constitutional amendments in 30 states barring same sex marriage. Nine states allow gay marriage.


Related: Eric Holder Says Gay Marriage is the Next Civil Rights Issue


Related: Republican Moderates Join Legal Fight for Gay Marriage



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Oil prices fall as US sequester cuts loom






NEW YORK: Oil prices fell late in the session Thursday after trading slightly higher much of the day, with traders blaming portfolio adjustment on the final day of the month.

But prices were also soft as the United States appeared headed for slower economic growth due to mandated spending cuts that kick in beginning Friday.

New York's main contract, West Texas Intermediate crude for April delivery, lost 71 cents from late Wednesday, closing at $92.05 a barrel.

Brent North Sea crude for April fell 49 cents to $111.38 a barrel in London trade.

Prices were fairly stable much of the day, showing little impact from an improved but still disappointing revision to the US growth rate for the 2012 fourth quarter, to a positive 0.1 percent from the original estimate of a 0.1 percent contraction.

But late in the session support for WTI and Brent dropped out.

"That has a lot to do with the technical selling pressure that finally gave up towards the end of the day. Today is the last day of the month and you'll see some month-end rebalancing," said David Bouckhout of TD Securities.

The market also appeared well-supplied given the pace of the global economy, analysts said.

"Fundamentally, oil prices are unlikely to rise much in the short-term as demand remains weak and supply abundant," said Fawad Razaqzada of traders GFT Markets.

The US appeared headed for a growth slowdown as the US government's "sequester" budget cuts appeared likely to take effect Friday.

Economists warn the $85 billion in spending reductions for the next seven months will take off a 0.5 percentage point from potential growth, if politicians cannot find a last-minute compromise in White House talks Friday.

-AFP/ac



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Andrew Mason out as Groupon CEO



Andrew Mason (Credit: Dan Farber/CNET)


Andrew Mason is out as chief executive at Groupon.

The company announced the management change in a terse statement this afternoon. It said that Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis would participate in a newly created Office of the Chief Executive, effective immediately, serving in this role on an interim basis until the board finds a CEO replacement.


"On behalf of the entire Groupon Board, I want to thank Andrew for his leadership, his creativity and his deep loyalty to Groupon. As a founder, Andrew helped invent the daily deals space, leading Groupon to become one of the fastest growing companies in history," Lefkofsky said in the statement. It also quotes Leonsis saying that "
Groupon will continue to invest in growth, and we are confident that with our deep management team and market-leading position, the company is well positioned for the future," said Leonsis.

The news follows another disappointing quarter from Groupon. At one point in early 2011, the online group budget deals company was logging gross billings growth of 1,400 percent year over year (That's not a typo.) But as the company's growth rate slowed, its marketing and sales costs have been climbing. In its fourth quarter, the company lost $81.1 million, compared with a $65.4 million loss a year earlier. The news drove down the company's shares by about a fifth of its value. The stock closed Thursday at $4.53, compared with its 52-week low of $2.60.

After the company released its earnings on Wednesday, analysts again voiced a lack of confidence in the company's ability to execute -- adding further pressure on Groupon's board of directors to make a move. Over the last year, there has been no shortage of chatter about the board debating whether to replace Mason.

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Newtown father's emotional plea to Congress

During emotional testimony before the Senate Judiciary Committee today, the father of a first grader slain at Sandy Hook Elementary School fought back tears as he stressed the need to ban weapons like the assault rifle that a gunman used to kill his son, 19 other children, and 6 educators in Newtown, Conn.

Neil Heslin described how his son Jesse "was brutally murdered at Sandy Hook school on December 14, 20 minutes after I dropped him off."

"He said 'It's all going to be OK'," Heslin recalled his son saying as he was dropped off at school. "And it wasn't OK."

"Jesse was the love of my life. He was the only family I have left. It's hard for me to be here today, talking about my deceased son," Heslin said. But he added, "I have to. I'm his voice. I'm not here for the sympathy...I'm here to speak up for my son."

"There's many changes that have to happen to make a change effective," he continued. "Mental health issues, better background checks, bans on these weapons, bans on high capacity magazines - they all have to come together and they all have to work effectively...common sense tells you that."

The hearing was convened to discuss a bill from Sen. Dianne Feinstein, D-Calif., which would ban military style semiautomatic weapons like the Bushmaster rifle that was used to commit the massacre at Sandy Hook. The bill would also ban the manufacture and sale of ammunition magazines in excess of 10 bullets.


Feinstein, who sponsored the original assault weapons ban that passed Congress in 1994 and lapsed in 2004, said that "The need for a federal ban" on these assault weapons "has never been greater."

The committee's ranking Republican, Sen. Charles Grassley of Iowa, extended his condolences to the victims of gun violence in the audience but voiced skepticism about the prospect of enacting new gun laws when, in his view, existing gun laws are not even being properly enforced.

The assault weapons ban is perhaps the most controversial among a raft of proposals to reduce gun violence floated by President Obama in the wake of the massacre at Sandy Hook. Another key propsoal would strengthen and expand the background check system for gun purchasers.

Opponents of gun control argue that many of the proposals would be an unconstitutional infringement on the Second Amendment's guarantee of a right to bear arms. Many also argue that the proposals would be an ineffective deterrent of gun violence.

Supporters of gun control argue that the right to bear arms is not absolute and has previously been legally abridged in a variety of ways. They further point to the dramatically decreased incidence of gun violence in countries whose firearm restrictions are more stringent than our own.

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Newtown Dad's Tearful Plea at Senate Gun Hearing












A father who lost his son in the massacre at Sandy Hook Elementary School sobbed as he testified at a Senate hearing today in favor of an assault weapons ban.


Across town Vice President Biden alluded to untold horror of the Newtown tragedy in an appeal for help from the nation's attorneys general.


Despite their emotional appeals, the push for gun reforms championed by the White House and many Democrats faces an uncertain future.


"Jesse was the love of my life," said Neil Heslin, sobbing as he described his 6-year-old son before the Senate Judiciary Committee. "He was the only family I had left. It's hard for me to be here today to talk about my deceased son. I have to. I'm his voice."


Heslin's son, Jesse Lewis, was among the 20 children and six teachers and school administrators murdered at Sandy Hook Elementary in Newtown, Conn. last December. Heslin recounted his last moments with his son when he took him to pick up his favorite, sausage egg and cheese sandwich and hot chocolate before dropping him off at school on the morning of Dec. 14.


"It was 9:04 when I dropped Jesse off. Jesse gave me a hug and a kiss and at that time said goodbye and love you. He stopped and said, I loved mom too." Heslin and his wife are separated.


"That was the last I saw of Jesse as he ducked around the corner. Prior to that when he was getting out of the truck he hugged me and held me and I could still feel that hug and pat on the back and he said everything's going to be ok dad. It's all going to be ok," Heslin said breaking down in tears a second time. "It wasn't ok. I have to go home at night to an empty house without my son."












Army Vet Awarded Medal of Honor for Afghan Firefight Watch Video





Heslin was one of eight witnesses testifying at a hearing to back a proposed assault weapons ban. Another witness was Dr. William Begg, a physician who made it to the emergency room the day of the Newtown shooting.


"People say that the overall number of assault weapon deaths is small but you know what? Please don't tell that to the people of Tucson or Aurora or Columbine or Virginia Tech, and don't tell that to the people in Newtown," Begg said as he choked up and people in the crowd clapped. "Don't tell that to the people in Newtown. This is a tipping point. This is a tipping point and this is a public health issue. Please make the right decision."


Related: Read More About Heslin's Testimony


The Senate Judiciary Committee is set to consider four gun safety measures, including the assault weapons ban, on Thursday. The three other bills aim to stop illegal gun trafficking, enhance safety in schools, and enact universal background checks.


As the hearing unfolded on Capitol Hill, Biden tapped into the stories that Newtown's first responders have shared with him as he urged attorneys general to help the administration push their gun proposals.


Related: The Tragedy at Sandy Hook


"With the press not here, I can tell you what is not public yet about how gruesome it was," Biden said of the massacre's gruesome aftermath at a Washington luncheon. "I met with the state troopers who were on the scene this last week. And the impact on them has been profound. Some of them, understandably, needing some help."


A spokeswoman for Biden could not clarify the non-public information to which he referred. The vice president suggested that what he heard in private conversations should spur lawmakers to enact some measures aimed at curbing gun violence.


Related: President Obama's Campaign Organization Turns to Gun Control






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Football: Robben strikes as Bayern dump Dortmund out of cup






MUNICH, Germany: Bayern Munich ended their three-year wait for a competitive win over Borussia Dortmund on Wednesday as Arjen Robben's first-half strike sealed a 1-0 German Cup quarter-final victory.

February 2010 had been the occasion of Bayern's last league or cup win over Dortmund -- a six-game stretch -- but Robben's thunderbolt two minutes before the break at the Allianz Arena was enough to put Munich in the last four.

A pre-season Supercup final win in Munich last August had been Bayern's only source of comfort against Borussia recently.

Despite having spent much of this season on Bayern' bench, Robben took over on the left-wing from France's Franck Ribery, who was suspended, to show coach Jupp Heynckes what he has been missing.

The 29-year-old ex-Chelsea and Real Madrid star sank to his knees and beat the turf at the final whistle in delight.

He has now scored in three of Bayern's last four games after netting in recent Bundesliga wins over Wolfsburg and the 6-1 drubbing of Werder Bremen last Saturday.

This was the clash of Germany's titans -- Bayern Munich, 17 points clear in the Bundesliga against defending league champions and cup holders Dortmund, who have dominated the top-tier of German football for the last two years.

Germany defender Mats Hummels dropped out the day of the game with flu and in his place Brazilian Felipe Santana partnered Neven Subotic at centre-back for Dortmund.

Robben's inclusion for the suspended Ribery was the only change from the team which won 3-1 at Arsenal in the Champions League just over a week ago.

Dortmund hammered Bayern 5-2 in last May's German Cup final, when Poland striker Robert Lewandowski netted a hat-trick.

If Wednesday's game needed extra spice, Lewandowski has been strongly linked to a move to Bayern with his contract to expire in 2014.

In a tight, nervy cup game, both teams had their opportunities.

The brightest chance of the first-half fell to Javi Martinez when his shot straight at Roman Weidenfeller was parried and the Dortmund goalkeeper scrambled back to grab the loose ball on 36 minutes.

Bayern kept up the pressure and when Dortmund's Marcel Schmelzer hit a weak clearance, Robben's shot from 18 metres clocked 115km/h (70mph) as it hit the top-right corner on 43 minutes for what proved to be the winner.

With Dortmund out, Bayern are now clear cup favourites and are on course to be the first team to win the treble of German league, cup and Champions League titles in their quest to end their three-year wait for silverware.

VfB Stuttgart, who beat third-division VfL Bochum 2-0, Wolfsburg and Freiburg are the other teams to go into the pot for Sunday's draw with the semi-finals to be held on April 16/17, with the final on June 1 in Berlin.

- AFP/ac



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AirDock: Activate Siri with the power of air pressure



AirDock prototype

A prototype of the AirDock.



(Credit:
Video screenshot by Amanda Kooser/CNET)


Driving and smartphones don't mix well. While you can get a lot done using voice commands with Siri on your iPhone, you still have to activate her. If you're driving, that can take valuable seconds away from paying attention to the road. The AirDock Kickstarter project is looking to make Siri air-activated rather than fingertip-activated.


AirDock is described as "in-car, eyeless Siri." That means you don't have to take your gaze off the road to use it. The prototype version of the AirDock involves a suction-mount dock you put your iPhone into. A plastic tube with a squeeze bulb on the end sticks out from it. Squeeze the air bulb to push the home button, turn on the phone, and activate Siri.




There's a certain silly factor to the AirDock. After all, it's a dock with a tube with a squeezie-thing on the end. It's a couple steps up from a whoopee cushion. The prototype is big, though the final design should shrink considerably. All in all, making it safer to access your iPhone while driving is not a bad idea.

What might be more fun would be to take the rubber squeezer off and use the tube like a straw. Blow into it and activate Siri. Not a bad party trick.


AirDock creator Tim Hugall is aiming for a pretty ambitious $75,000 goal for his Kickstarter fundraising, and he'll have to presell a lot of $30 AirDocks to reach it. The concept may end up being just a little bit too unusual for mainstream acceptance. Sure, it's cheaper than buying a new Honda with eyes-free Siri integration, but it's not as cheap as fumbling for your phone and pushing the button.


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